Worldwide IT Spending Forecast To Reach US$3.5 Trillion Next Year

Gartner has forecast growth in worldwide IT spending next year, with software and IT services revenue leading the way.

Spending will reach US$3.5 trillion in 2017, up 2.9 per cent year-on-year, according to the Gartner forecast.

Software spending is forecast to grow 6 per cent this year to US$333 billion, and another 7.2 per cent in 2017, totalling US$357 billion, with IT services forecast to grow 3.9 per cent this year, reaching US$900 billion, and a further 4.8 per cent in 2017, reaching US$943 billion.

Gartner has taken into account the potential impact of Brexit and the US election.

“Without the UK, global IT spending growth would have been modestly positive at 0.2 per cent in 2016, but with the UK included, IT spending is expected to decrease 0.3 per cent. The immediate impact of the British pound will also cause the IT spending patterns to shift as prices for IT will increase.”

Gartner notes that there will be some changes in IT investment, with companies monitoring negotiations closely, such as in financial services, with analysts expecting some countries in Europe to put more investment into IT, offering a more viable option for EU countries than the UK.

Ahead of the US election, Gartner analysts do not believe the election, or winning candidate, will effect IT spending trends.